North Carolina Real Estate Q&A Discussion Forum
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago on . Most recent reply
To build or not to build
Currently I’m looking to buy a 600k old 2/1 home in downtown Miami. Avg Square foot is 459$- 500$ in that area. I want to build a three story triplex, I checked the zoning as well and I can build up 5 floors. After a preliminary research I have found two GC that would charge around 150$-200$ per square foot. Is it a good idea to build or buy an existing triplex? Anyone here from Miami or any similar city to this market that has done this type of deals?
Thanks you
Most Popular Reply
so Here is a quick update, I just closed on a property 620k, single family home "off market" driving for dollars strategy, zoned for two townhouses, each townhouse can sell for 1 mill or refi for about 750k. the estimated budget is 220k per townhouse. Currently Im drawing plans, and working with my drafter. The neighborhood is the Roads which is next to downtown Miami. will keep you guys posted!! I will be house hacking this home then move to the next one. Main Strategy is BRRRR.